ATOXF - Durango Provides Discovery Property Update
(TheNewswire)
Vancouver, BC / TheNewswire /February 28, 2024 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQB-ATOXF), (the “ Company ” or“ Durango ”) is pleased to announce that after further review of the2022 drilling and field mapping program at its wholly owned Discoveryproperty the pegmatite dykes show promising lithium potential.
The Discovery Property adjoins Sayona Mining Ltd.(ASX-SYA) in the highly prospective James Bay Territory, 100km northof Chibougamau, Québec in the Frotet-Evansgreenstone belt. In the summer of 2022, Durangoannounced the completion of a 1,737m exploration drill campaign in anarea with known surface gold anomalies on the DiscoveryProperty. The program was designed to test forthe source of the surface gold anomalies which assayed up to 14 g/tAu.
Six drill test holes were conducted in a small areawhere the surface gold was encountered, and the assays returnedelevated lithium, rubidium, and cesium in each of the drill holes. Atotal of 225 meters spanning all six drillholes (18, 28, 89, 19, 24,47 meters in holes DE-22-01 to DE-22-06 respectively) containedlithium values over 100ppm which also coincided with rubidium andcesium anomalies. Average lithium, rubidium and cesium values overthis length were 185ppm, 250ppm and 57ppm respectively. The maximumvalues were 859ppm lithium, 3,830ppm rubidiumand 436ppm cesium. An average total of rare earths for this intervalwas 94ppm with a maximum of 806ppm. The highest values were found tobe present in metasomatic halos around pegmatite dykes. This is aknown phenomenon that can occur in LCT (lithium, cesium, tantalum)pegmatites where there is an early expulsion of an aqueous fluid fromthe dyke during emplacement (Errandonea-Martin et al., 2022).
Elevated copper and zinc were also present in threeholes, reaching up to 2,100ppm copper and up to 4,740ppm zinc (seenews release dated March 31, 2023).
In 2023 the fires prevented much of the plannedexploration at the Discovery Property, but the fires were successfulin exposing additional outcrops on the property (Figure 1).
Ten pegmatite dykes were mapped at surface in 2022 overa relatively small area of the property with lengths ranging from afew meters to 55 meters in length (Figures 2 and 3). Four additional pegmatite dykes were mapped in 2023 on abrief field visit to assess the extent of the summer fires. None ofthese dykes have been tested at depth and the newly exposed pegmatiteoutcrops are located over a kilometre away from the previously knowndykes. Figure 2 shows the Discovery claim boundaries and areas mappedto date. Figure 3 shows the area visited in 2023.
Marcy Kiesman, CEO of Durango stated, “ We are pleased to report these additional pegmatite outcropsas it speaks to the potential size and scalability of the DiscoveryProperty. It is clear that the Discovery Property warrants furtherinvestigation, and that the inclusion of critical and rare earthelements is essential. With the newly exposed rock from the 2023 firesthe Discovery Property will benefit from additional mapping as soon asthe weather permits.”
The Company is investigating its options on the bestway to move the project forward and a dditionalupdates will be announced as soon as they become available on theexploration program. The exploration team has recommended additionalmapping and follow-up drilling for 2024.
Melanie Mackay P.Geo (OGQ Special Authorization 10317,EGBC 35256, APEGA 305012) is the QualifiedPerson for Durango and approves the technical content of this newsrelease.
References
Errandonea-Martin, J., Garate-Olave, I., Roda-Robles,E., Cardoso-Fernandes, J., Lima, A., dos Anjos Ribeiro, M., Teodoro,A. C. 2022. Metasomatic effect of Li-bearing aplite-pegmatites onpsammitic and pelitic metasediments: Geochemical constraints oncritical raw material exploration at the Fregeneda-Almendra PegmatiteField (Spain and Portugal). Ore Geology Reviews, 150, 105155. https://doi.org/10.1016/j.oregeorev.2022.105155
About Durango
Durango is a natural resources company engaged in theacquisition and exploration of mineral properties. The Company is alsopositioned for discovery with a 100% interest in a strategicallylocated group of properties in the Windfall Lake and Troilus goldcamps in the Abitibi region of Québec ,Canada.
For further information on Durango, please refer to itsSEDAR profile at www.sedarplus.com .
Marcy Kiesman, CEO
Telephone: 604.428.2900 or 604.339.2243
Email: durangoresourcesinc@gmail.com
Website: www.durangoresourcesinc.com
Forward-Looking Statements
This news release contains “forward?lookinginformation or statements” within the meaning of applicablesecurities laws, which may include, without limitation, statementsthat address the upcoming work programs, and other statements relatingto the business, financial and technical prospects of the Company. Allstatements in this news release, other than statements of historicalfacts, that address events or developments that the Company expects tooccur, are forward-looking statements. Although the Company believesthe expectations expressed in such forward-looking statements arebased on reasonable assumptions, such statements are not guarantees offuture performance and actual results may differ materially from thosein the forward-looking statements.
Such statements and information are based on numerousassumptions regarding present and future business strategies and theenvironment in which the Company will operate in the future, includingthe price of minerals, the ability to achieve its goals, that generalbusiness and economic conditions will not change in a material adversemanner, that financing will be available if and when needed and onreasonable terms. Such forward-looking information reflects theCompany’s views with respect to future events and is subject torisks, uncertainties and assumptions, including those filed under theCompany’s profile on SEDAR at www.sedar.com . Factors that could causeactual results to differ materially from those in forward lookingstatements include, but are not limited to, continued availability ofcapital and financing and general economic, market or businessconditions. The Company does not undertake to update forward?lookingstatements or forward?looking information, except as required bylaw.
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